M100 Community
Association Management
Exam Questions with
correct Answers
Section 1: Community Association Fundamentals
1. What is the primary purpose of a community association?
A. To generate profit
B. To provide housing
C. To manage and maintain common property and enforce governing documents
D. To act as a real estate agency
Correct Answer: C
2. Which document establishes the legal existence of a condominium association?
A. Bylaws
B. Rules and regulations
C. Declaration / CC&Rs
D. Articles of Incorporation
Correct Answer: C
3. Who has ultimate authority in a community association?
A. Community manager
,B. Board of directors
C. Association attorney
D. Homeowners collectively
Correct Answer: D
4. What type of association typically owns the common areas outright?
A. Cooperative
B. Condominium
C. Homeowners Association (HOA)
D. Timeshare
Correct Answer: C
5. Which governing document usually outlines voting rights and board structure?
A. Declaration
B. Bylaws
C. Rules and regulations
D. Management contract
Correct Answer: B
Section 2: Board of Directors & Governance
6. What is the primary role of the board of directors?
A. Perform daily maintenance
B. Enforce laws
C. Make policy decisions and oversee operations
D. Represent individual owners
Correct Answer: C
, 7. Board members owe the association which three fiduciary duties?
A. Loyalty, honesty, transparency
B. Care, loyalty, obedience
C. Faith, diligence, confidentiality
D. Accuracy, fairness, consistency
Correct Answer: B
8. What is a quorum?
A. Minimum number of board members required to hold a meeting
B. Majority vote of homeowners
C. Annual membership meeting
D. Board election procedure
Correct Answer: A
9. When should the board consult legal counsel?
A. Routine maintenance decisions
B. Budget preparation
C. Contract negotiations and legal disputes
D. Minor rule enforcement
Correct Answer: C
10. Which action is typically prohibited for board members?
A. Voting on budgets
B. Reviewing contracts
C. Accepting kickbacks from vendors
D. Enforcing rules
Correct Answer: C
Association Management
Exam Questions with
correct Answers
Section 1: Community Association Fundamentals
1. What is the primary purpose of a community association?
A. To generate profit
B. To provide housing
C. To manage and maintain common property and enforce governing documents
D. To act as a real estate agency
Correct Answer: C
2. Which document establishes the legal existence of a condominium association?
A. Bylaws
B. Rules and regulations
C. Declaration / CC&Rs
D. Articles of Incorporation
Correct Answer: C
3. Who has ultimate authority in a community association?
A. Community manager
,B. Board of directors
C. Association attorney
D. Homeowners collectively
Correct Answer: D
4. What type of association typically owns the common areas outright?
A. Cooperative
B. Condominium
C. Homeowners Association (HOA)
D. Timeshare
Correct Answer: C
5. Which governing document usually outlines voting rights and board structure?
A. Declaration
B. Bylaws
C. Rules and regulations
D. Management contract
Correct Answer: B
Section 2: Board of Directors & Governance
6. What is the primary role of the board of directors?
A. Perform daily maintenance
B. Enforce laws
C. Make policy decisions and oversee operations
D. Represent individual owners
Correct Answer: C
, 7. Board members owe the association which three fiduciary duties?
A. Loyalty, honesty, transparency
B. Care, loyalty, obedience
C. Faith, diligence, confidentiality
D. Accuracy, fairness, consistency
Correct Answer: B
8. What is a quorum?
A. Minimum number of board members required to hold a meeting
B. Majority vote of homeowners
C. Annual membership meeting
D. Board election procedure
Correct Answer: A
9. When should the board consult legal counsel?
A. Routine maintenance decisions
B. Budget preparation
C. Contract negotiations and legal disputes
D. Minor rule enforcement
Correct Answer: C
10. Which action is typically prohibited for board members?
A. Voting on budgets
B. Reviewing contracts
C. Accepting kickbacks from vendors
D. Enforcing rules
Correct Answer: C
